Chairman of China’s Geely acquires 10 percent of Daimler
WASHINGTON — Daimler says that Chinese businessman Li Shufu, chairman of Zhejiang Geely, has acquired nearly 10 percent of the German automaker’s shares. Geely, which owns Sweden’s Volvo Cars, continues to expand its portfolio of vehicle brands that includes a 49.9 percent stake in Malaysia’s Proton and a 51 percent stake in Britain’s Lotus. Geely